Friday, August 10, 2018

Flip It Flip It Good

1015 Robin Ln Wrightwood, CA 92397

Recently updated and fully furnished (Everything inside is included) located in the Acorn area of Wrightwood with a level entry off the street. This property has new paint, flooring, appliances, furniture and even a washer and dryer. Ready to move in or rent out with an approval from the County for short term rentability...
Very nice kitchen remodel. 
 And how is this sweetie represented?  

2 Beds  1 Bath
836 Sq. Ft.
$235,000
$281 / Sq. Ft.
 
Let's check out the "bedrooms."That's right.  ZERO bedrooms, just a loft. 

133 comments:

LBD said...

Nice but it looks like it's a sale at half the price. IMO.

What do you do with a place up there weekend work on it and clean then go back to the city?

Rob Dawg said...

I'd agree that $120k is the rational price point. Personally I don't mind an hour of raking pine needles, etc. for a weekend at the cabin. Not this however. You can't even invite friends to stay.

Elizabeth Merceret said...

For the money you could go stay in a nice hotel for years? Maybe?
Don't get it.
Are there any amenities there?

Elizabeth Merceret said...

Son's house went up about 12%.in a year!
Ours went over the 400k mark, ,cheap for Kali, but not here.

Elizabeth Merceret said...

Of course, it's just zillow. Imaginary money, but fun.

Rob Dawg said...

Liz. Good point about a hotel. Taxes alone at $2400/yr are one heck of a vacation.

LBD said...

Taxes for my Motor home went up they are now $57 insurance $780. I can go different places, no worry about the lake going dry, property burn down, vandalism, etc. We average about $5k for a 5-6 week road trip.

Elizabeth Merceret said...

Why would you steal a big airplane? What would you do with it once you had it??

Elizabeth Merceret said...

Not bad. How many do you take?

Elizabeth Merceret said...

Just looked at Bacall 's 26m$ Central park apt. I'd like the view. But huge and lonely, and far too busy for my taste. One or 2 incredibly beautiful things per room.

Elizabeth Merceret said...

Do loop de loops apparently.

Elizabeth Merceret said...

For me, that is.

LBD said...

Good Morning!

Does she have wall paper?

Rob Dawg said...

Why would you steal a big airplane? What would you do with it once you had it??

Ohhhh that's a tempting question.

I was at the world famous Hollywood Bowl last night. The orchestra provided the music for the first Stars Wars movie (Ep IV A New Hope) while the movie played on big screens. Halfway through the first act an airplane clearly interdicted the restricted airspace. I was not pleased. I doubt more than a fraction of a few percent saw the implications.

Fair warning. If I found out I have brain tumor and have weeks to live I'd consider something equally stupid as the steal a plane commit suicide thing not the crash and hurt others thing.

Rob Dawg said...

26m$ Central park apt

NYC RE is just on another planet. Talking to a friend last night. She was going to stay a single night at the Fairfield with an existing $1600 credit. They asked for a credit card for the other $400.

Elizabeth Merceret said...

Don't remember.

Elizabeth Merceret said...

Is the bedspread diamond pave'?

EngineerJim said...

>Is the bedspread diamond pave'?

No, that room is $20,000 not $2000 per night.

LBD said...

If you got it, why not. Glad I am a nobody with nobody to impress. ;)

Elizabeth Merceret said...

Hehehe.

Elizabeth Merceret said...

If you are a somebody you don't need to impress.

Elizabeth Merceret said...

People who can be impressed with that are boring.

Elizabeth Merceret said...

The grandbaby is growing fast.

LBD said...

You have to posture to climb the latter or show you have the power of success. I am a vary happy nobody who fixed cars. LOL!

Elizabeth Merceret said...

The spacecraft with the payload that will touch the sun took off last night. It woke the hub and shook the house, and the little objects on his nite table shook and danced. I didn't wake up. Gee, another non fake space event

Elizabeth Merceret said...

I have had a number of very happy clients who fixed cars. They were all quite smart too
And made some money.

Elizabeth Merceret said...

Zillow thinks my house is worth another 1000$. We're rich, I say rich!!.

Rob Dawg said...

When Liz does that it always makes me look. For the last year it's been about $12,000 per month. If the nearby comps on the market get their asking price the formula will probably tack on another $100k. Still doesn't get the lawn mowed.

LBD said...

I to look at Zippo when LL does. Mine went up $1200 recently, $188,000 Dosen't even show the house acrossed the street as currently listed or sold. They are still out there. IMO

LBD said...

Dawg Rich!

Rob Dawg said...

Enough of this "rich" already! As Daffy Duck would say, "comfortably well off" at best. And even that is tied up in speculative CA Real Estate and equally speculative stocks and bonds. One thing to see it on paper. Quite another to be able to get it out.

dilbert dogbert said...

To LIZ:
The grand daughter is just getting up on her hind legs. She just did an unaided free stand. She loves climbing the stairs. Her mom ties up what I call antennas with her hair. I call her the rugbug. Super cute.

Elizabeth Merceret said...

Rich is rich! Spend some of that lovely money, before somebody takes it away. You are richer than we are pand I feel pretty rich.

Elizabeth Merceret said...

Little of our income is speculative, unless the govt falls in which case everyone is sooluck. The contractor is coming and doing stuff well, which causes grit and dust everywhere. And he is progressing micely, which means we have to choose cabinets tile and countertops pretty fast. Which means hub and are sometimes at loggerheads. If I had any more to decorate,.I'd move to a hotel room or a trailor in front of the house.

Elizabeth Merceret said...

He's just starting to be able to hold up his head, and smile.

Elizabeth Merceret said...

Nicely hehehe

LBD said...

If your needs are taken care of and your Happy, then that's rich. :)

Elizabeth Merceret said...

If you also have money, that's richer

dilbert dogbert said...

We rich.
However, when you grew up in public housing with a single mom who is a fry cook or part time teacher, you didn't learn how to be rich.

LBD said...

I think you are richer for her efforts and giving you a vision of where you want to go.

Elizabeth Merceret said...

True

However, you have to grow into your money. What kind of investments to buy. What sort of wonderful things you can buy, without being cheated . What charities will help people or science the best.

Elizabeth Merceret said...

Nitey nite.

Elizabeth Merceret said...

My hub is driving me crazy about choosing cabinets. You'd think it was a vital piece if the space shuttle.

LBD said...

Good Morning!

I need a job so I can get some rest!

Lot of cool stuff with cabinets now days.

Elizabeth Merceret said...

Too much! Remember that Robin Williams movie, when he, as a Russian defector, faints at the excessive choices at the grocery store?

Firemane said...

"Moscow on the Hudson"

I actually recall a Reader's Digest article back in the '70s where a Soviet defector (MIG pilot, IIRC), was taken aback by the scope of the "sham" when taken to a US Department store to get some clothes.

However one grows up - that's normal. Everything thereafter gets pumped through that filter.

Big difference being born rich vs. growing into it.

LBD said...

My wife's 94 year old grand mother stared in awe at the choices. When she was you the store had one brand and kind of mustard and no expiration date.

I raced with a guy who inherited money and made it in to a lot more. Super nice down to earth workaholic. Not all rich people are jerks even if they a born in to it.

Firemane said...

LBD,

Absolutely.

There are plenty of grew up poor a**holes, too.

Rob Dawg said...

My hub is driving me crazy about choosing cabinets. You'd think it was a vital piece if the space shuttle.

Funny. I got the same comments when I was involved. Have hubs contact me so I can tell him what I learned from the "Lexus Kitchen Remodel."

Elizabeth Merceret said...

And having np preparation at all can be very bad.

Elizabeth Merceret said...

I think it is a big disadvantage to be born to a rich or otherwise highly successful father, especially for boys, especially if the expectations of the father are too high or the father does not like the son's chosen career.

LBD said...

Good Morning!

Life has challenges of all kinds on all levels. You have to be happy, no one can make you be something in side. All up to you.

Elizabeth Merceret said...

I wish. Chemistry and genetics has something to do with it, not just life events.

Elizabeth Merceret said...

The young Swedes are rioting and burning down cars. Due they say, to inequality. Hunh? Swedes??

Firemane said...

The whole nature/nurture question will never be fully answered.

But, I recall reading somewhere not long ago that research suggested "friends" were a much larger "nurture" component than family. Lot of moving parts, so hard to pin down -- but I can definitely see a ton of exemplars in and around my life where the friends chosen early had a very obvious impact on how lives eventually turned out.

LBD said...

Swedes? Look closer it probably is either Islamist immigrants or backlash from Swedes. Nothing new, the problem of European open immigration is starting to come apart. Some countries are trying to close the flood gates but they just keep coming. This will not end well.

Firemane said...

Just saw this on CR:

*88 percent of those hiring or trying to hire reported few or no qualified applicants for the positions they were trying to fill.*

Read more at https://www.calculatedriskblog.com/#YqJ7Q35BzSvE23uM.99


LBD said...

Lack of qualified applicants? Our education system has failed then but they need more money.

Elizabeth Merceret said...

The are wearing black. Sounds like fascists, but what do I know? Backlash maybe.

Elizabeth Merceret said...

Agreed. The kids in my history classes have the ultimate contempt for their high school classes.
The trainable must be trained.

Firemane said...

I estimate 96% of people are trainable.
What should society do with the 4% that aren't?

Latest BLS employment report: 6.28 million (3.9%) unemployed.
Latest JOLTS report : 6.66 million job openings.

Just fyi, last time unemployed total was lower was May of 2001.

Labor force in May of 2001 was 143.32 million.
Labor force in July of 2018 is 162.25 million.





LBD said...

LL, here is a link to world news by country. It appears the event was a social media arranged as a non specific group and the news is probably filtered. IMO

If 96% are trainable then 4% can be absorbed.

Employment numbers still skewed by part time jobs so many are under employed and generally have little or no skills. Lot of slack as I see it, besides having a degree does not necessarily give you a skill.

Elizabeth Merceret said...

True. But if you are keeping a parttime job , it's pretty clear you are trainable.

Firemane said...

But holding a PT job should at the very least indicate one is trainable (up to a point).

While there is some impact with PT workers, I think you are grossly over-stating the impact of PT jobs in regards to employment figures. The BLS asks whether the PT job is "by choice".

PT for *NON* economic reasons is 21.5 million.
PT for Economic reasons is 4.57 million.

Back in May of 2001 (my previous data point), there were:
18.67 M for non-economic
3.44 M for economic reasons.

In the Reagan era, there were 4.6 M PT for economic reasons when he was sworn in Jan 1981 - and 5.05 M when Bush took over in 1989. And the total labor pool was a LOT smaller back then.

My point here is that historically, as far back as about 1980, having around 4 M PT for economic reasons is "normal". What's amazing is that it did drop as low as 3M briefly during the Clinton admin - but after hitting 4 M in 2001, there were exactly 2 months during the "W" years (Mar/Apr of 2006) when it dipped below 4M.

That said - there *IS* one valid reason to balk at comparing Reagan era figures to today. Because there WAS a change in the way PT for Economic was counted between 1993 and 1994. I think they tightened up the definition for "economic reasons".

But, Dec. of '93 the reading was 6.053M, and Jan. of '94 it was suddenly 4.664M. A systemic change knocked over a million out of the pool. Pointing at that as a valid complaint of "changing paradigm" would be completely fair.

But, then why wasn't "W" hammered for having more than 4 M PT for economic reasons? Because there hasn't been a significant change since '94.






Elizabeth Merceret said...

I wonder if there's an under the table statistic which is useful?

LBD said...

I think we live in a world of whining as to there is no opportunity when there always has been. It is more about desire and discipline. A 26 HR WK food worker is a low bar meant for kids, house wives and retirees, NOT adults head of house holds. Millennial's seem to be the least prepared for grown up life we have seen yet. IMO.

Elizabeth Merceret said...

Wives are kids? You'd better rethink that.

LBD said...

? reread it, I don't see you point.

Unknown said...

Greece debt deal near!

FormerIdealist said...

North Carolina is still awesome....home of Bank of AMERICA!!!!

FormerIdealist said...

Trump's doing great! Now let's Lock Her Up.

Rob Dawg said...

When do we hear Turkish Debt real near?

Elizabeth Merceret said...

Good Morning.

Elizabeth Merceret said...

You imply women and retires are capable of only leaping over low bars, less capable.

Elizabeth Merceret said...

I hate Wells Fargo more now.

Elizabeth Merceret said...

???

LBD said...

Good Morning!

Not at all but many need simple short hour jobs for a little extra income or something to do.

LBD said...

Turkey is a lost cause. Kill it before it spreads.

LBD said...

Musk tweets like T and he brought the SEC in to his game. Backfire!

Elizabeth Merceret said...

Then they are not counted in u6, they are happy.

LBD said...

Some are happy and some not but I bet most have no clue what U-6 is or care. Now days you have 45-50 work years to prepare for retirement and again many can't get it done nor do they care. Live for today!

Elizabeth Merceret said...

Now you get it.
Seriously, there was some praise of frugalness when I was a kid, banks allowed very small deposits and gave you a book showing what you had, to encourage future savers. Now it's too much trouble.

LBD said...

I remember during the mortgage/housing scam talking heads screaming you don't need savings, your house is your safety net! Barrow your way out! Nuts.

FormerIdealist said...

Party!!!!

FormerIdealist said...

My house was my safety net. Gotta live somewhere.

Elizabeth Merceret said...

Yeah, and you money way trapped in there. Liberate it!

LBD said...

Good Morning!

Give me Liberty or give me Debt!

Elizabeth Merceret said...

Cathic sex abuse. If it happened so frequently in Pennsylavania, I think it is safe to assume it happened roughly that frequently everywhere. Believe what you want, but don't give them anymoney or leave your children alone with them.

LBD said...

I would imagine it's not just a Catholic thing either. The idea of hiding it is criminal.

Elizabeth Merceret said...

Debt is easy to get

Elizabeth Merceret said...

Every once in a while a protestant gets accused. But it seems to be less widespread. But who knows? Would you continue going to mass, if you knew the celebrant was an unpunished pedophile, (and still believed)?

Elizabeth Merceret said...

The idea of hiding it serially as the guilty moved from parish to parish, acquiring new victims, bbn is incredibly unspeakable. Long prison sentences are appropriate.

LBD said...

Religion never clicked for me. I see the reason for it and don't mind it as long as people don't go nuts. Losing trust is also killing America, a tool of the left extremist. IMO.

Firemane said...

LBD,

Completely agree that the messages regarding debt are largely insane.

The problem as I see it is multi-faceted.

The "Greatest Generation" that actually lived through the Depression and WWII knew what real hardship was - and knew what rationing was like, and were GRATEFUL for the opportunity to buy one house in their life - and expected to stay there forever.

2+ generations removed from that reality - the only voices talking about debt and finance are the finance people. There *IS* no "other side". Primary education doesn't include education on finance, and if they did, no doubt the texts would be funded by the banks to spin the message that is most profitable to them.

So, kids reach adulthood today with either zero knowledge of how money works (most common), or if they've read anything, it's all based on the pro-capitalist finance lead propaganda filled with lies and half-truths. And if someone (like the government) was to even try to offer a different narrative - (like Elizabeth Warren's Consumer Financial Protection Bureau) - it's going to immediate be assailed as evil government interference - with the attacks financed by the same billionaires made rich off the past 50 years of credit avarice.

When it's impossible to teach the BANKSTERS that doling out bad loans is bad FOR THEM, what prayer do we have that the uneducated masses will see things differently?

LBD said...

Warren is just another one of them. The Consumer Financial Protection Bureau was a front to build more government and give a false sense of comfort, nothing more. Parents can't teach what they don't know and education has bowed to the Banksters. Your kid is nothing with out a college degree, please step over to the Student loan Representative please so we can raise tuition. Amazing easy it has been to dupe a nation.

The old question from the CR group. How does this help the Banks?

Firemane said...

LBD,

While we can agree to disagree about the CFPB, I concede that some gov watchdog groups do a better job than others.

But that aside ... serious question. How would you suggest combating the ignorance of the masses regarding finance - and what type of regulation (if any) would you support in regards to the banks?

LBD said...

Honestly the harm is done. The demon of old and ignorant will prevail until they get the rough lesson of a depression or war. I have been thinking about how the confrontation of Ohio State shootings. Repeat coming? Last weekends protest got me wonder why they would issue permits to parties ready to fight as proven last year. Where was the government responsibility to protect the citizens? Why not issue one or the other a permit on different days. Both get to voice their opinions ans no one is likely to get hurt especially the police. Government has proven to not fix what it intends to. America 2.0 is here.

Banks own the politicians and the FED. Not going to happen but banking practices of the past where there for a reason. Interbank lending allowing debt as asset is wrong. Savings rates would probably be restored. Separation of local banks and investment banks should revert to Glass Stiegle (?) era. Lending banks eat bad deals including mortgages as should colleges eat bad student loans. Limit government backed mortgages to 2 per person and only if you don't default on the first one. Limit these loans to $250K with 20% down. That is a start but you can't go back but you can go bust. Full Speed Ahead!

Elizabeth Merceret said...

In order to teach about money the bottom third would have to hAve some.

Rubygoat said...

My parents did tow things that set me up for true success. 1) they started a college fund of $100/mo when I was 3 years old. I graduated in 5 years with no dept and transferred half a year to my brother. 2) They cosigned on a $1000 limit credit card when I was 16. By the time I was 26 and looking to buy a house I already had 10 years of immaculate credit history and no student debt.

Elizabeth Merceret said...

I suppose that you can't break them back up by state again.

Rubygoat said...

ugh typos
*tow=two
*dept=debt

Elizabeth Merceret said...

By 2 states? By 3 if the are little states

Rubygoat said...

My zillow must be broken, my home value is flat since December.

Elizabeth Merceret said...

When I went to college it was relatively cheap. And my mom inherited some the 2nd year.
My daughter worked summers and we made her put half away. She valued it more, but was mad at us. We cosigned for grad school..
The son we saved by the Florida college Fund. And he went in the army first, so he lived rich.

Elizabeth Merceret said...

Hehe. Those times I don't look.

Elizabeth Merceret said...

Aahhh, it didn't go up for a day.

LBD said...

The poor look to our education system for the tools and get zip. I shake ny head every time the local news reports the Banksters came to school to teach kids about responsible banking, I see a hook. The poor can save if shown how. First thing to learn is the poor here are very rich by world standards. Then baseline ones positives and negatives are vital to move ahead. Not hard, hard work.

Firemane said...

I grew up in house with grandparents.
After divorce, Mom was starting from scratch, (Navy wife, no appreciable assets to split - though she did get the boat).

I "saw" fear of debt from Grandparents, but no actual financial teaching went on - other than, "when your allowance is spent, you're on your own."

But Brother and I had different base personalities from childhood, (I "liked" hoarding cash - he liked spending it immediately). Not taught, just instinctive. Of course, I got called "miser" and "Scrooge" -- funny thing, I don't recall any derogatory terms being used for the spendthrift. (a term I incorrectly thought meant its opposite for years).

I agree that the death of Glass-Steagall was the final straw, and splitting up investment and commercial banking would by itself solve a lot of the problems. I disagree that it's an impossible task. I think there's a *LOT* of space between where we are and "perfection", and even incremental moves to prevent the worst abuses of the 2000s is better than nothing.

Some states practically avoided any fallout from 2008 because the state laws were tougher than the Federal regs, (Texas, ironically has some of the strictest banking laws - thanks to their earlier meltdown in the '80s during the S&L crash).



Rubygoat said...

Texas has been very stable, but we are getting huge inflows of people from California and the east coast, and they are bringing their housing price sensibilities with them. Texas has been resistant to the madness, but it's not immune.

LBD said...

The 2008 banking crisis proved once and for all the government would eat it. Only a total idiot or thief let things go as bad as they did and not see it. There is no boundary to big to create a new way to cheat or write laws that can't be defined or apply to every situation. In racing if it is a gray area the it must be legal till challenged. Bank theft is in the Bush family. Speaking of S&L scandal Denver's worst offender has Neal Bush. He wrote a children's book on finance a few years ago. I wonder how many fools bought it.

Poor Texas. What happens in Kali infects everywhere else. It's been Kalirado for almost 2 decades and now my friends all want out. Not much good anywhere to go anymore. Nebraska sucks, really. :)

Elizabeth Merceret said...

Off to yoga.

Elizabeth Merceret said...

Yoga gooood.

Elizabeth Merceret said...

You know, Kali is really a country all by itself. Maybe it should be treated like that. Then adjacent states could enact controls. Immigration controls? Hehehe

EngineerJim said...

>You know, Kali is really a country all by itself. Maybe it should be treated like that.

It has a large enough population to be a country.
However there's no reason it can't continue as a (large) state.

dilbert dogbert said...

Egnr Jim,
Same could be said of Texas.

dilbert dogbert said...

Liz:
Us native Kalis would like to enact controls. WW2 ruined the state. Let a lot of folks in to work in war industries and they never went home. Or, if they went home they found out where they came from was a shithole and quickly returned.

dilbert dogbert said...

Rubygoat:
That is great news!!!!

dilbert dogbert said...

Liz commented on the Penn Priests and it brought to mind Pascal. He of Pacal's wager and Pascal's belt.

Elizabeth Merceret said...

It was a country but was too lazy to do country stuff and stay that way.

Elizabeth Merceret said...

Bah, you wouldn't want to pay for an army and a navy.
Too many snowflakes.

Elizabeth Merceret said...

Pascal? Do I dare look it up?

Elizabeth Merceret said...

He was supposed to be a good Christian scientist. He had a hidden side

Elizabeth Merceret said...

...I guess ??
???

Elizabeth Merceret said...

How about a new post?

Firemane said...

Latest CR housing data suggest California housing market is slowing, (sales dropping and inventory rising).

My question would be - is this just the first sign that the housing tailwind to the economy is ebbing, or is Cali an isolated case?


LBD said...

Good Morning form a real Californian with one parent pre WWII. :) Yes Kali has change a lot and not for the good IMO.



LBD said...

Kali coast is full of hot money from around the world and has been for decades before Silicon Valley. Current world churn is probably effecting the market. I find it hard to consider Housing to be a reflection of our true economy.

FormerIdealist said...

I think there was a big push to buy before rates went up which pulled demand forward....now a little slack...

Elizabeth Merceret said...

New zealand is trying to keep out rich homebuyers so thei our people can afford to buy.
Good or bad???

Elizabeth Merceret said...

He who shall Not Be Named cancelled bbn hos stupid military parade

Elizabeth Merceret said...

His

Rob Dawg said...

New post. I will address questions in the comments.

LBD said...

"New zealand is trying to keep out rich homebuyers so thei our people can afford to buy."

Government for it's people? what a novel idea.